Ruchir Modi alleges serious irregularities at Godfrey Phillips

Mumbai: Ruchir Modi, a board member of Godfrey Phillips India, has alleged “serious irregularities and corporate governance issues” at the tobacco company and sought the intervention of the Ministry of Corporate Affairs and the Sebi into the matter.

He opposed the nomination of his grandmother, Bina Modi, as the managing director of Godfrey Phillips after the death of her husband, KK Modi, in November 2019 and sought an investigation by the Serious Fraud Investigation Office (SFIO), a wing of the corporate affairs ministry, into the affairs of the company “in the interest of shareholders”.